Mortgage Rates Retreat Further—They’re Officially Ridiculously Low

16 July 2010 –I must admit that sometimes I feel like the guy at the craps table betting against the come. The one who revels in repeated cold streaks as he scrapes stacks of chips from the table while everyone else loses. When I feel this guilt, however, I just remember that the scourge of the craps table is simply making the most out of a bad situation. That said, this was another rough week for the economy, but a good week for mortgage rates.

The week began a bit precariously with some initial good earnings announcements driving mortgage rate trends upward. By Thursday, however, rates retreated after some less than encouraging news from the Fed on the health of the economy and further bad news on employment. Mortgage rates are now, once again, ridiculously low, breathing new life into aspirations of homeowners and homebuyers to get the lowest rate possible.

About Doug Katz

As the Senior Mortgage Banker and Sales Manager for Chicago Bancorp, Doug not only originates loans for his personal business, but also oversees affiliations with banks and other financial institutions that depend on Chicago Bancorp to meet their client’s lending needs. In this role, Doug directs the day-to-day mortgage sales operations of over 25 branches in a multitude of Chicagoland’s diverse communities. He brings to these relationships a wealth of industry experience and a dedication to an exceptional client experience that has established Chicago Bancorp as Chicago’s pre-eminent mortgage solution providers. Prior to joining Chicago Bancorp, Doug attended and graduated from West Point. Upon graduation, he was commissioned as an officer in the United States Army Artillery, where served 5 years in numerous roles and in various deployments include service in Kuwait. In addition to his Bachelor’s Degree from West Point, Doug holds an M.B.A. from Loyola University Chicago, where he was also inducted into the Beta Gamma Sigma Honor Society. He also served as President for the West Point Society of Chicago from 2003 to 2005 and still serves on the Board of Directors. When not working, he spends his time with his wife and three children in their hometown of Oak Park, as well as pursuing his passions for fitness, cooking and the banjo. Doug can be reached by phone at 312.738.6079, by email at doug@chicagobancorp.com, on his own blogs, BankerDoug.com and Vet Money Matters. He's also on LinkedIn.